Pin4 activates open cardless cash network
NEW ORLEANS (3/3/16)--The first cardless ATM network in the United States has begun a limited rollout.
Pin4 has launched in New York, Miami, Chicago and Los Angeles and will continue expansion throughout the year, with full nationwide access expected in the fourth quarter.
Pin4 offers person-to-person transfers, promotions, rewards fulfillment and other cash disbursements, without the need for an ATM card or a bank account.
To withdraw cash, Pin4 sends a text to the money recipient’s phone, revealing a secure PIN, which the recipient enters along with a code. In minutes, the recipient is able to pick up their cash at a Pin4-enabled ATM at their convenience. The recipient can find the nearest enabled ATM using the Pin4 mobile app.
“Cash isn’t going anywhere and as companies and consumers increasingly look for mobile solutions that reach beyond simple cash withdrawals, our technology is the very first to equip ATMs to facilitate P2P transfers as well as rewards and promotion redemptions,” said Richard Witkowski, Pin4 CEO. “With Pin4, ATMs become mobile money terminals.”